The Institute of Chartered Accountants of India (ICAI) is set to scrutinize the financial statements of Gensol Engineering and BluSmart Mobility for the fiscal year 2024 following allegations of misconduct. This move comes in the wake of the Securities and Exchange Board of India (SEBI) imposing a market ban on Gensol’s promoters for alleged fund diversion. The Financial Reporting Review Board (FRRB) will evaluate the companies’ adherence to regulations, and any discrepancies found could result in disciplinary measures and potential reporting to regulatory bodies. Additionally, the Ministry of Corporate Affairs is contemplating further action against Gensol in light of the allegations.